[Mission 2024] Current Affairs Quiz , 26 August 2023

Solution: b)

Statement 3 is incorrect.

Punjab is traversed by three perennial rivers — Sutlej, Beas, and Ravi — alongside two rivulets, the eastern (Chitti) and western (Holy) Beins.

Canalisation involves regulating or diverting the flow of water from a water source, such as a river. This can include directing river water into specific channels, utilising mini dams for regulation, establishing interconnections between canal systems and rivers, and fortifying earthen embankments in times of need.

The perennial rivers have significant dams, such as the Bhakra Nangal Dam on the Sutlej, Pong Dam on the Beas, and Ranjit Sagar or Thien Dam on the Ravi. There are also Dhussi Bandhs — earthen embankments — on all these big rivers.

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Solution: a)

Only Statement 1 is correct.

The Reserve Bank of India (RBI) recently directed lenders to levy penalty for default by borrowers as ‘penal charges’ and not as ‘penal interest’ which is added to the rate of interest charged on the advances.

The norms were released after the RBI found that many regulated entities (REs) — lending institutions regulated by the central bank — were levying penal rates of interest, over and above the applicable interest rates, in case of defaults or non-compliance by the borrower with the terms on which credit facilities were sanctioned.

A penal charge is an additional charge a lender levies on a borrower in case of delay in payment of equated monthly installments (EMI) or default or non-compliance of payment contracts.

The new guidelines are applicable to banks, including small finance banks, regional rural banks, but excluding payments banks, non-banking financial companies (NBFCs), housing finance companies, primary urban co-operative banks and All India Financial Institutions such as Exim Bank, Nabard, SIDBI and NaBFID.

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Solution: d)

Personal loans refers to loans given to individuals and consist of (a) consumer credit, (b) education loan, (c) loans given for creation/ enhancement of immovable assets (e.g., housing, etc.), and (d) loans given for investment in financial assets (shares, debentures, etc.).

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Solution: a)

Only Statement 2 is correct.

Invented in the 1980s, 3D printing burst into the mainstream around the 2010s, when many thought it would take over the world. The technology, however, at the time was expensive, slow and prone to making errors. In recent years, some of these flaws have been done away with, making 3D printing more prevalent than ever before. For instance, it’s being used in automotive and aerospace sectors to make parts of cars and rockets respectively.

3D printing, also known as additive manufacturing, is a process that uses computer-created design to make three-dimensional objects layer by layer. It is an additive process, in which layers of a material like plastic, composites or bio-materials are built up to construct objects that range in shape, size, rigidity and colour.

3D printers construct the desired object by using a layering method, which is the complete opposite of the subtractive manufacturing processes. 

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Solution: d)

Internal Debt comprises loans raised in the open market, compensation and other bonds, etc. It also includes borrowings through treasury bills including treasury bills issued to State Governments, Commercial Banks and other Investors, as well as non-negotiable, non-interest bearing rupee securities issued to International Financial Institutions.